With over 1000 reviews published, I have an in-depth analysis of this market, and understand exactly what companies and types of products are legit, and who needs to be added to the Binary Options Blacklist. The reason I say types of products, is because there are entire sections of this marketplace that can be accurately painted with a single brush, and avoided by intelligent traders that are looking to waste any time.
My hopes in writing this article today, is that I can introduce you to some viable opportunities, while at the same time helping you avoid the common pitfalls and mistakes made by many binary options traders that of come before you. This market certainly doesn’t have the best reputation around, but that hasn’t stopped me from making my way through hundreds of product reviews, and helping thousands of traders along the way.
Binary Options Blacklist
There are a plethora of ways that traders can be preyed upon in the binary options marketplace. There are untrustworthy brokers, unscrupulous software vendors, fake account managers, and wealth recovery experts to get you on the way in and on the way out. I’ll start my Binary Options Blacklist analysis by taking a closer look at some of the untrustworthy brokers, and the types of approaches they take in order to siphon money from new traders.
Some of the most common elements of deceit with untrustworthy brokers are obvious and quite simple to notice. Brokers will frequently lie about how many clients they have, to make themselves seem like a larger and more professional firm. It’s quite easy to see who is using this method, by doing a simple Google search and seeing what type of feedback there’s been on the brokerage. If the broker has only a couple reviews, then they probably only have a couple of clients.
Brokers also get access to your phone number, and then will call you relentlessly telling you that you can increase your income and get access to a binary options account manager, as long as you deposit more money. This is a common tactic used by untrustworthy brokers, in order to get more money out of your pockets.
Here are a couple of brokers that it made my Binary Options Blacklist, that have utilized methods like the ones I’ve highlighted above.
I could list more, but I don’t want the review to become too convoluted.
Unscrupulous Software Vendors
There is an entire segment of the binary options community that I’ve placed directly in my Binary Options Blacklist. This is the vendors that aggressively pushed binary options trading robots over the past couple of years. I’ve noticed, over the past few months, that these vendors are starting to move away from the binary market, as they seek greener pastures. Yet, there are still quite a few automated systems being sold, that have no intention of winning you money whatsoever.
In my research, I found that the developers of these automated trading systems were essentially selling the exact same system hundreds of times over with different names. Each time, the software wouldn’t perform, they would just release it again under a new name, with a handful of new promises.
Here are a couple of the automated trading systems that made my blacklist.
Who is Legit?
One of the most difficult aspects of trading, is escaping the Binary Options Blacklist, and finding out who is legit. There are a couple of binary options brokers that are still servicing this market admirably, and you can check them out here.
The main aspect I want to cover though today, is binary options trading software.
While automated trading systems have proven to be nothing but a scam, there are other methods to grow your accounts with very little effort. My main process, is the utilization of signal services, or signal systems that provide me with trading signals, and allow me to place trades on my own. I am not relying on a robot to open and close trades on my behalf, so I have an adequate amount of control, and I can trade whenever I see fit.
This is the method that I recommend to all of the readers here at Binary Today, and if you have a method of your own, I hope that you will share it in the comments section below. Thank you for visiting, and have a great day.